MyCSP

In a letter to the editor, Capita Employee Benefits denies claims it is to blame for MyCSP civil service pension payment delays.

After high profile issues around data transfer, PP looks at how the industry can get things right

Our top stories this week included problems for MyCSP, a whopping legal bill for Guinness Peat, an ombudsman decision with wide-reaching consequences, and schemes taking asset management in-house.

The revelation that MyCSP has thousands of members which have experienced delayed or missed payments; is a stark tale about the difficulties of data transfer.

MyCSP has blamed a backlog of 47,000 member enquiries inherited from Capita when it took administration in-house for delayed payments to members.

MyCSP has admitted it is experiencing problems with delayed payments after transferring its admin in-house and shifting its 1.5 million members onto a single administration system.

Transferring data in the pensions industry is fraught with difficulties and MyCSP knows this.

Equiniti's Sarah Holdstock (pictured) has been appointed head of pensions administration by MyCSP.

Equiniti taken a controlling stake in MyCSP after it boosted its share in the firm as the government reduced its stake in the company by 11%.

MyCSP has moved its 1.5 million members onto a single administration system in one huge data transfer.